Top 7 Best Two-Wheeler Insurance Providers in India

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Under The Motor Vehicles Act, third-party two-wheeler insurance is mandatory in India. Apart from being a legal mandate, having insurance also acts as an added benefit in case of a damage or loss to a two-wheeler due to accidents.

Along with third-party liability benefits, two-wheeler insurance offers various additional benefits like free services/repair of the two-wheeler as well as its accessories, additional discounts, etc.

However, given the sheer multiplicity of insurance providers in the country, choosing the best two-wheeler insurance policy in line with one’s exact requirements and budget becomes a challenging task.

Well, today we’re going to make it easy for you.

All you need to do is carve out a few minutes of your day and check out the brief overview of top seven best bike insurance companies in India below to make a well-informed choice.

List of Top 7 Best Two-Wheeler Insurance Providers
1. ICICI Lombard

ICICI Lombard is one of the biggest and most trusted names in India’s insurance domain. Being one of the few insurance companies to have embraced technology integration, ICICI has been conferred with several awards including the ‘Celent Asia Insurance Technology Award’ for its seamless mobile app. ICICI Lombard has issued over 11 million policies and settled more than six million claims.

Key features:

  • Long-term, flexible policy offering.
  • Repayment for damages resulting from manmade and natural calamities, including terrorism attacks and personal accidents.
  • With ICICI two-wheeler insurance, even third parties receive the benefit on accidental damages, permanent injury and even death.
  • Fully operational website.
  • Online purchase of insurance policy.
  • Immediate issuance of policy copy online.
  • One-time premium.
  • Multiple payment modes for convenient online premium payment.
  • Discounts for Automobile Association members.
  • Free servicing across 3300+ cashless network garages in India.
  • Efficient 24X7 customer support team quickly resolves claim-related and other policy related issues.
  • Doorstep assessor facility is provided, in case there is a break in the policy.

Know More About: ICICI Lombard Two Wheeler Insurance

2. HDFC Ergo

HDFC Ergo is yet another popular insurer that offers comprehensive two-wheeler insurance cover at competitive rates. The company has nationwide and global presence, and they have extremely simple policy application and renewal procedures. The “iAAA” rating is testimony to HDFC Ergo’s highest claim settlement ratio. HDFC ERGO is ISO certified and takes pride in its outstanding customer service quality, superior information security, smooth policy issuance and claims service process.

Key features:

  • Instant online policy issuance and renewal.
  • Customisable two-wheeler policy.
  • Repayment of all accidental damages to the two-wheeler as well as the policyholder.
  • Repair services available for two-wheeler as well as accessories.
  • Policyholders can file claims online.
  • Round-the-clock, efficient customer support to help policyholders resolve policy and service related queries/issues.
  • Customer’s voice box.

Read More About: HDFC Ergo Two Wheeler Insurance

3. Bajaj Allianz

Dependability, seamless services, innovative products, and a strong customer-oriented approach is what makes Bajaj Allianz one of the most sought after names when it comes to two-wheeler insurance. Apart from bagging the “Best General Insurance Company in the Private Sector” title in 2014 by ABP news, Bajaj Allianz has also been conferred with various other prestigious awards such as “Claims Innovation of the Year” and “Golden Peacock Award 2014”.

Key features:

  • Compensates for damage or loss to the two wheeler caused by natural calamities like earthquakes, cyclones, floods, etc., and also man made problems like theft, riots, terrorist activity, etc.
  • Offers third-party liability benefits, in case of property damage, accidental injury or death.
  • Easy online policy renewal.
  • Free services in chosen garages.
  • 24X7 customer support providing instant assistance for any policy or service related issue.
  • Quick and hassle-free claims settlement/support and various free services.
  • SMS updates regarding the insured two wheeler’s claim status.

Read More: Bajaj Allianz Two Wheeler Insurance

4. TATA AIG Insurance

It is difficult not to talk about TATA AIG when talking about India’s top two-wheeler insurance providers. With its comprehensive insurance for all two-wheelers, along with several important benefits, the company consistently ranks alongside country’s best insurance companies.

Key features:

  • Free pick up of two wheeler in case of accident.s
  • Six-month warranty for accident repairs (For TATA AIG Auto secure policyholders).
  • Direct online claim filing option.
  • Claim settlement assured within seven days.
  • Covers total as well as partial loss of two wheelers in case of accidents that lead to third party property damage/bodily injury.
  • Add on covers available - No Claim Bonus protection, depreciation reimbursement, daily allowance, key replacement, return invoice, etc.
  • Compensates for loss of personal belongings inside the insured two-wheelers in case of an accident.
  • Round-the-clock, dedicated customer service team that resolves any policy or service related issue in minimum turnaround time.

Read More: Tata AIG Two Wheeler Insurance

5. Reliance General Insurance

Parented by the Reliance group, Reliance General Insurance is one of the top insurance companies in India, offering excellent insurance policies for two-wheelers. With its comprehensive range of coverage and the wide ranging services and features, the company makes it easy to understand why it remains a sought after option when it comes to bike insurance in India.

Key features:

  • Fast and hassle-free claim settlement via NEFT.
  • Easy policy renewal tool options available online.
  • No claim bonus (NCB), installation of anti-theft devices, membership of recognised Automobile Association etc., every year.
  • Quick and hassle-free settlement of claims in case of damage/loss caused to the insured two-wheeler due to accidents, riots, theft, and various natural calamities, along with third party liability cover.
  • Free repair/replacement services in any of the 2,100 network garages across India, along with an INR 1,500 allowance on towing charges.
  • 24X7 customer support accessibility via phone or email.

Read More: Reliance Two Wheeler Insurance

6. New India Assurance

New India Assurance, a wholly government-owned firm, has not only developed a nationwide reach, but has also established a strong global presence in over 27 countries. New India Assurance happens to be the only Indian direct insurer conferred with the “A” rating by A. M. Best. Apart from this, New India Assurance also has various other prestigious ratings that speak volumes about the company’s dedication and capability to tend to every request and need of their wide network of policyholders.

Key features:

  • Quick claims processing.
  • Outstanding grievance resolution system – Grievances once reported are acknowledged within three days and resolved within 15 days.

Read More: New India Assurance

7. SBI General Insurance

SBI General Insurance has an extensive reach across 56 cities, serving three key segments – corporate, retail, and SME. SBI General’s comprehensive two-wheeler insurance policy is one of the most sought after insurance products, thanks to its wide range of customer-centric offerings, features and benefits.

Key features:

  • Customised pricing in line with applicant’s specific profile.
  • Additional discounts.

Read More: SBI Two Wheeler Insurance

Wrapping it Up!

So, there you have it - top 7 best two-wheeler insurance providers in India. If you too are planning to get comprehensive two-wheeler insurance or get your existing two-wheeler insurance renewed, take your pick from one of the 7 insurers mentioned above and get set to enjoy an ocean of mind-boggling benefits and features.

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